Investment firm acquires control of OHL
Jul 6, 2005 10:27 AM, from staff and wire reports
New York-based private equity investor Welsh, Carson, Anderson & Stowe is acquiring a controlling interest in privately held third party logistics (3PL) provider Ozburn-Hessey Logistics (OHL).
Under this agreement, OHL's corporate headquarters will remain in the Nashville TN area, and the firm will continue to pursue its operating and growth strategies. Though current managers will retain their positions, OHL is adding Jim Martell to its board as non-executive chairman and an investor. Martell previously served as chief executive officer of SmartMail Services.
With 2,700 total employees, OHL operates 18 multi-client warehouse facilities and almost 100 total facilities in 20 states. Its supply chain services include fulfillment, return logistics, service parts management, cross docking, and pool distribution. OHL now has more than 19 million square feet of warehouse space in the United States and provides truckload, less-than-truckload, and parcel shipment transportation.
